Basic Betting Tips to help you get the most out of your BetStars experience

Have a Betting Bank and stick to a staking plan

At the start of every week or month, put aside the amount of money you are willing to risk betting online. Depending on personal circumstances this will vary from person to person, but never bet with money you cannot afford to lose, or if you are betting in the hope of winning money you really need for something. Betting should be a leisure activity, not seen as a quick path to easy cash.

With your betting bank, stick to a strict staking plan where you do not bet more than a certain amount on an event depending on your strength of feeling. A 3-point bet may be reserved for when you feel most confident, whereas a 1-point bet would be for bets where you are not entirely sure, but feel the price is too big.

Concentrate on the sports and events you know the best

If you follow the English Premier League regularly and believe you have a good knowledge of the division then it makes sense to bet primarily on fixtures from this division to start with rather than another league or sport you know little about.

There has never been more stats and information freely available on sports than now, so do your research before placing your bets. If you want to bet on NFL, but know little about it, then make sure you read up on the sport.

Understand betting terminology and how to read odds properly

Understand the terminology of the betting markets and how they are settled - these vary greatly across different sports. Do you know what an Asian handicap is? Or how each-way betting works in other sports, compared to football? Markets and terms like Double Result, Points Spread, backing, laying, hedging and betting value are all examples of things you should be familiar with and understand before you start betting.

BetStars betslips will always show you the potential return once a stake is entered, but do you understand what odds like 17/2 or 1.68 mean? If not, make sure you learn. Choose the odds format that you understand the best: fractional odds, decimal odds or American odds.

Odds equal percentages. For example, 9/1 (10.00) means the event has a 10% chance of happening, while 1/4 (1.25) equals an 80% chance. A 100/1 (101.00) shot may look a big price but in reality it has a 1% chance of happening. Being able to convert odds into percentages will give you an advantage on deciding whether something is a ‘value’ bet or not.

Don’t chase losses

Online betting is a long-term pastime. Bookmakers lose when a string of favourites all win, and similarly bettors will experience peaks and troughs with their betting. Shock results, controversial decisions, early sending offs or injuries can ensure even the best researched bet goes awry.

Unlucky losers hurt and a sequence of losses can be frustrating. Never try and chase your losses either by betting bigger on another match, or betting on events you hadn’t planned to bet on, but now see as an opportunity to get your money back. Having a betting bank and a strict staking plan is important as it helps you build discipline.

And remember, sometimes taking a break from betting for a few days or longer is a good option after a poor run. Refocus and wait for an event where you are really confident on.